A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

8 56am

tested 96 and still carried on falling under 90

Bounces staying under 4900 are sells again for now

GU

9 36am

Over an hr from scalp sell after 8 27 am at 4910 area

We have stayed under 4900 on bounces and now testing 4870

So far best scalp of the morning

Bounces now staying under 86 are sells again - must look were next interim support is

 

[Forexmospherian]

EU

9 22am

Its pulled back from 0992 and now at 0983 and looking to see if I can scalp buy again

Watching time rule on high as well

Cannot scalp buy just atm - having to wait

EU

9 38am

we did not go under 0982 and 9 30 am said scalp buy - but so far its not moved up much - ie only 4 pips

Needs 89 to stay with scalp buys and would only sell really under 0980 and 77 for now

 

[Forexmospherian]

Will pop back after 10 am next and if no nice set ups will then look after 1 00 pm

 

[Forexmospherian]

EU

10 19am

Were we are atm

Under 80 and 78 was sells - but so far stopped at 73/4

Now the scalp range is approx. 0966 to 0990 - about 24 pips

Above 84 and 89 - favours scalp buys and a test higher

Under 82 and 70 favours lower and scalp sells

In between - just wait really

Too slow atm to really scalp - also other pairs still offering better opportunities to make money - maybe best this morning being the GA - over the GU - which as also been nice

Will pop back before midday

GL and see you later

 

[sun11]

Hello Forexmospherian.

Good to see you back.

Hope you enjoyed your holidays..

I was trading from Mondays since then I have some bad losses...my wining rate is very low...
I have at least 5 consecutive loss days...that means, I am picking all bad trades....In this account I have 129 pips loss..I am not sure these are manageable or not..

Regards
Sun

 

[Forexmospherian]

Hello Forexmospherian.

Good to see you back.

Hope you enjoyed your holidays..

I was trading from Mondays since then I have some bad losses...my wining rate is very low...
I have at least 5 consecutive loss days...that means, I am picking all bad trades....In this account I have 129 pips loss..I am not sure these are manageable or not..

Regards
Sun

Hi Sun

Yes - enjoyed the Christmas break and I hope you did too.

Its back to basics I think Sun - if I remember correctly - one day around w/c the 21 st December you had 8 consecutive wins and a good solid morning etc

For you then to go on to 5 consecutive loss days means something drastically wrong - and I would imagine its because you stressing with it being live and so therefore not trading with my method logic - but instead just going into failure mode.

I am sure you know - as soon as you go back to demo - within a day or 2 you would be hitting multiple wins and a win ratio of over 70-% + again.

My suggestion first is to stop trading for at least 1 or 2 days and then look at the bad trades over this last few days - and see what you are doing wrong - is it just timing ? - did you get out of any with less than minus 3 pips - if not - why not ?? etc etc

Question yourself and then any winners you got - note what was the difference - was it timing or was it just grabbing 2 or 3 pips out of desperation.

You need to be hard on yourself now and question every aspect - was it all the EU ?? - Where you trading in BTTZ areas and getting done ? - too many scalps per hr or not ?? are you "panicing" too much

We need to get the real reasons before we can cure them - don't hold back on anything that you think as effected your trading - no matter how small it might seem

When you have the info - we can then start the cure process

Whether it takes 1 month or 6 months - don't worry- its bound to be solvable - 129 pips is only 1 to 3 days trading for me - and on your target just over a week - its nothing in the big picture - but we need to act now rather than it get to minus 500 pips etc etc.

Regards


F

 

[Forexmospherian]

GU

9 36am

Over an hr from scalp sell after 8 27 am at 4910 area

We have stayed under 4900 on bounces and now testing 4870

So far best scalp of the morning

Bounces now staying under 86 are sells again - must look were next interim support is

GU

12 13pm

Nearly 3 hrs from where we left partial stakes on sells under 86

We have now been down to 4822 and I am watching time rule on that low now

Lovely fall - similar on GA - noticed pound was bearish yesterday as well but never traded it - well worth trading it today

 

[Forexmospherian]

GU - So far Today

]GU

8 26 am
[/B]
Aa scalp buy from either 7 51 am or after 8 09 am but now needs above 4917 and 20 to stay with

Supports from 4895/4900 area

Still testing up as I type - but without 17 and 20 - it will fizzle out

]GU

8 38am

topped at 14 - could not make 17 + and after 8 27 am was a scalp sell

[/B]93 to 98 is all support and so unless we carry on lower - look for a scalp buy ideally above 96/7

GU

9 36am

Over an hr from scalp sell after 8 27 am at 4910 area
8 56am

tested 96 and still carried on falling under 90

Bounces staying under 4900 are sells again for now
We have stayed under 4900 on bounces and now testing 4870

So far best scalp of the morning

Bounces now staying under 86 are sells again - must look were next interim support is

GU

Comment above from London Open time

We never made over 4917 and 20 to stay with buys

We sold after 8 27 am or 8 30 am and 96 did not hold and so from then on - it was in sell mode and bear bias - noted by LRs and of course time rules

Here's chart

 

[MajorMagnuM]

ga update

 

[Forexmospherian]

ga update

Hi MM

Pound was weak yesterday ( did not trade at all) and again this morning resulting in a 200+ pip fall this morning - mega move for a quiet holiday session ;-)

Hope you have had a nice Christmas

Feel sorry for Sun - we all know what its like when stress/ worry / anxiety stops you trading as per normal like on a demo - unfortunately - she's suffering big time with it atm - hoping we can steer her back onto the road to success again

Have a good week - hoping to do at least 2 more days this week

REgards


F

 

[Forexmospherian]

EU

10 19am

Were we are atm

Under 80 and 78 was sells - but so far stopped at 73/4

Now the scalp range is approx. 0966 to 0990 - about 24 pips

Above 84 and 89 - favours scalp buys and a test higher

Under 82 and 70 favours lower and scalp sells

In between - just wait really

Too slow atm to really scalp - also other pairs still offering better opportunities to make money - maybe best this morning being the GA - over the GU - which as also been nice

Will pop back before midday

GL and see you later

EU

1 40pm

Comment above from 3 hrs ago

We stayed under 0984 and 89 - and so after 30 mins and 1 hr it favoured lower

The real drop did not start until after 1 00 pm - and then we went under 70 and so far made 0923 area

Scalp Lits area I reckon 0973 to 0977 ish - ie under or over and then time rules

 

[Forexmospherian]

30 + Minute Rule for Sun & any other followers of my method

EU

6 30 PM Update

The US early session had quite a lot of EU movements this afternoon

I am wondering if followers of my method understand how to relate time to LR's and PA and also key times and time windows

This chart of the EU maybe helps to explain about the 30+ min rule of interim highs and lows

Remember its only one clue - we need ideally 4 + clues to assist our decision making - not just one clue

Ideally we need a KT in a TW with a LR cross and PA with either HH's or LL's on 1 min with a TL breach as well as a key interim S & R level

Sounds complex ?

Well it is - if trading was simple and easy - why do 80/ 90% of traders lose money - that's why my method is not for everyone - we need to be a puzzle solver and also understand gameplay - etc etc

That's why newbie traders cannot just expect to follow my method - you need ideally at least 18+ months of experience and then it will take another 4 to 8 months to really get into my trading method etc

Sun is not even at 6 months so far - and after going live her performance has really fallen - really common to a lot of FX traders using a new system they are not fully au fait with - so its back to basics and making sure she understands the method inside out - not just scalping but also scalp to swing - part stakes - stops in profit etc etc etc

Every FX pair gives out so many clues for us to work with - its up to us to decipher the false ones from the proper clues - its difficult - but certainly not impossible

Look forward to any questions on this important part

 

[sun11]

Hi Sun

Yes - enjoyed the Christmas break and I hope you did too.

Its back to basics I think Sun - if I remember correctly - one day around w/c the 21 st December you had 8 consecutive wins and a good solid morning etc

For you then to go on to 5 consecutive loss days means something drastically wrong - and I would imagine its because you stressing with it being live and so therefore not trading with my method logic - but instead just going into failure mode.

I am sure you know - as soon as you go back to demo - within a day or 2 you would be hitting multiple wins and a win ratio of over 70-% + again.

My suggestion first is to stop trading for at least 1 or 2 days and then look at the bad trades over this last few days - and see what you are doing wrong - is it just timing ? - did you get out of any with less than minus 3 pips - if not - why not ?? etc etc

Question yourself and then any winners you got - note what was the difference - was it timing or was it just grabbing 2 or 3 pips out of desperation.

You need to be hard on yourself now and question every aspect - was it all the EU ?? - Where you trading in BTTZ areas and getting done ? - too many scalps per hr or not ?? are you "panicing" too much

We need to get the real reasons before we can cure them - don't hold back on anything that you think as effected your trading - no matter how small it might seem

When you have the info - we can then start the cure process

Whether it takes 1 month or 6 months - don't worry- its bound to be solvable - 129 pips is only 1 to 3 days trading for me - and on your target just over a week - its nothing in the big picture - but we need to act now rather than it get to minus 500 pips etc etc.

Regards


F

Good Morning F,

-500 no way... Never going to let that happen..

Ok, I reviewed my past trades, got printout.... I notice 2 things,

One is Panic, after -13-15 loss..I started feeling like i'm never going to reach my 25 pips under this circumstances plus it might produce more losses. ---- I see this pattern very common in my past 3-4 years results. That's why after certain loss in my account, I can't keep that account..It keeps falling...

Second is BTTZ areas...buy stopped out & then sell stopped out...Break for 60 mins... market still choppy...but then when I leave, then market reacted with a nice move...

Only improvement that happened, is I am not longer with fixed tp or sl..I do have hard stops & Tp...But am very fluid now. If I target 10 pips or i know after 10 pips from now there is a S/R level. Then if market stop around 7 pips in my favour & Lr changes.. I close instantly... Same goes for losses too..I am cutting losses early.

Yes I am taking break for 2 days...Will start trading after new year...but will check on your charts..will try to understand things about S/R levels.

Thank you
Regards
Sun

 

[Forexmospherian]

Wednesday 30 th December 2015 - European Open Time

Morning to all FX Intraday Traders

Just a couple of days left in 2015 now and today although we do have some news releases - none of them are red high effect ones

Plan to try and fit in another 4 to 5 hrs over a 10 hr window from now to 5 00 pm - and out those hrs - unless I am in scalps - will only spend 15 to 20 mins every hour looking for nice set ups that meet our criteria - ie ideally 7 to 25 pip moves off stops from 3 to 7 pips ( average 5 pips )

I will scan between 6 and 8 key pairs - but only plan to intraday trade 3 to 5 pairs - all depending on their movements etc

All Fx Inputs welcome - charts - calls - forecasts - even other FX pairs etc etc

Have a good day


Regards

F

 

[Forexmospherian]

EU

7 19am

First supports close to price at 0915 to 20 with first R's at 0945/50 and price at 0933.

Its is slightly bullish atm - but needs to breach over 0945 and even 60 to stay with any scalp buys taken

Under 0910 and 0900 would favour the price structure going bearish along with us looking at taking more scalp sells,

PA atm is really crap - and so unless you like scalping for just 3 to 5 pips - just wait for better movements

 

[Forexmospherian]

GU

7 23am

Far better pair to trade this morning - lot smoother PA

Buys from after 6 00 am and then sells from after 6 39am /6 51am / 7 00 am

So far dropped over 20 pips with first supports at 4815 to 23 area

Would need under 4812 and 07 to stay with sells - otherwise look for some new scalp buys this hr

 

[Forexmospherian]

Good Morning F,

-500 no way... Never going to let that happen..

Ok, I reviewed my past trades, got printout.... I notice 2 things,

One is Panic, after -13-15 loss..I started feeling like i'm never going to reach my 25 pips under this circumstances plus it might produce more losses. ---- I see this pattern very common in my past 3-4 years results. That's why after certain loss in my account, I can't keep that account..It keeps falling...

Second is BTTZ areas...buy stopped out & then sell stopped out...Break for 60 mins... market still choppy...but then when I leave, then market reacted with a nice move...

Only improvement that happened, is I am not longer with fixed tp or sl..I do have hard stops & Tp...But am very fluid now. If I target 10 pips or i know after 10 pips from now there is a S/R level. Then if market stop around 7 pips in my favour & Lr changes.. I close instantly... Same goes for losses too..I am cutting losses early.

Yes I am taking break for 2 days...Will start trading after new year...but will check on your charts..will try to understand things about S/R levels.

Thank you
Regards
Sun

Hi Sun

Glad you are taking a couple of days off - we need to remap your mindset with new confidence.

First thing we need to do is get you to look at things differently - ie a different picture -not the trading view you might have held for years etc.

I think you have said ideally you want to target say 25 pips a day ?

So on a 5 day week - that's 125 pips and in a 20 day month that 500 pips

In a full 11 months - allowing 1 month off for breaks etc etc - that's then approx. 5500 pips . If you said no I will be having 2 months off split over a few breaks still 5000 pips in a year you are aiming at.

So atm if you are down 150 or even 200 pips - in the big picture its nothing - but for you atm - you can never see yourself ever getting 500 positive pips - never mind 5000 pips - that's because your mindset as been damaged by the past.

So how do we repair it ?

There are so many different ways to assist you regain your confidence and I will not go through them all here - but we need to first micro manage you.

I need to know over last 3 months your exact trading times for everyday to get a common pattern. Is you trading window 4 hrs from say 5 am UK time to 9 am UK time - or can it be 5 or 6 hrs ??

Whats your longest trading session - and your shortest - whats your best trading days from your stats?

Whats you so far most profitable pair - and worse pair that gives you the most losses ?

Please try and supply as much info as possible - so we can start changing your patterns - ie the ones resulting in your negative results etc

Feel free to supply as much info as possible with regards to your style etc - the more I can discover what you might be doing wrong - or little things that are causing you the problems - the better

Regards

F

 

[sun11]

I understood this chart..specially the 30 minutes rule...
This is my chart on that timing:
I changed the LR thickness..so that the chart doesn't look clumsy.



Under 5-10 mins replying to your latest post...Need to gather stat..

 

[Forexmospherian]

I understood this chart..specially the 30 minutes rule...
This is my chart on that timing:
I changed the LR thickness..so that the chart doesn't look clumsy.

View attachment 211392

Under 5-10 mins replying to your latest post...Need to gather stat..

Please take your time with your stats etc over last few months etc - no rush

Its a shame but those movements took place in the UK afternoon and early US session - and of course out of your normal trading window as night time.

Still I think from say 6 am to 9 30 - and then say 11 am to 1 30 - 200 pm UK time is still enough time window for you to catch a net 25 -40 pips most days

Maybe from 4 30 am to 6 00 am UK early morning is not ideal - too slow maybe 70 -80% of the times but normally from say 7 30 am to 9 30 am - those 2 hrs can be very busy - ie when a lot kicks off

Regards

F

 

[Forexmospherian]

GU

Nice quick scalp sell after 7 51am - ideally 7 54/55 am from 25/26 price

Now 4 mins later a clean 7 pip fall - would have been ideal for you Sun - ie risk say 4 pips and make 5 to 6 pips all before LO on the next hr change